Rapid urbanisation in developing Asia, Latin America and Africa is driving exponential growth in the demand for energy.
Experts said this will also add to the rising levels of carbon emissions and worsen climate change.
If nothing is done to address this, climate change is set to cost economies up to 3 per cent of GDP by 2030.
The green technologies industry has received billions of dollars in investments this year and is set to grow further.
From solar panels to smartphone applications that can monitor energy consumption and efficiency, companies are making use of more ecological solutions and products.
Dr Roland Busch, Siemens CEO of infrastructure & cities sector, said: “Today we are investing close to 4 billion euros per year into research and development. One billion alone goes into green technologies. We have 28,600 researchers and developers working in that area and 3,300 – this is 12 per cent – alone in Asia… Read more